Meaningful Progress in US-Iran Talks Unlikely Before Trump-Xi Summit

Meaningful progress in negotiations between the US and Iran may be delayed until after a summit between President Donald Trump and Chinese President Xi Jinping. China’s role in the process is also drawing attention.

Walter Bloomberg reported on May 11 that a Middle East source said meaningful progress in US-Iran talks would be difficult before Trump meets Xi.

The source said the direction of future negotiations will depend on the outcome of Trump’s visit to China.

Around the same time, Iranian Foreign Minister Abbas Araghchi is set to attend a BRICS foreign ministers’ meeting in New Delhi.

Officials from Saudi Arabia and Egypt are also scheduled to attend. They are involved in informal diplomatic channels under Pakistan’s mediation, according to the report.

The source added that China is also playing a key role in keeping the dialogue going.

Markets are watching how a Trump-Xi summit and diplomatic activity in the Middle East could affect US-Iran negotiations and the global oil market. The summit’s outcome and any progress in mediation talks are seen as key variables.